Forex: NZD/USD in range trading

on Jun 26, 2013
Listen Wednesday June 26th_: The pair has been in a downtrend since 11 April from 0.8675 and reached a one-year low of 0.7682 on Monday. Since 20 June the NZD/USD has been trading within a range 0.7682 to 0.7805, constantly bouncing between these two levels.

So far today the price rose by half a percent and is currently residing at 0.7773. If the fall continues, the quote should target the 0.7500 level.
Resistance levels: 0.7805, 0.7945 and 0.8050.
Support levels: 0.7682, 0.7600, 0.7500 and 0.7450.
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